A Guide To Betting On Formula One
Formula One has increased massively in terms of being popular amongst punters, with many markets being on offer for healthy, and long-term profits to be made. This guide will explain the format of the sport, and will provide an insight on strategies, so you can then make an informed bet.
What Is Formula One?
And How Has It Changed?
Formula One is regarded as the highest class of motor racing that is sanctioned by the FIA. It consists of around 20 drivers, with 2 in each team, making ten f1 teams. The season consists of 20 Grand Prix’s, where each driver battles it out for the victory, or at least a place on the podium. Prior to the race, the weekend begins with three practice sessions for the drivers, followed by the Qualifying, where drivers battle for their race start position. After the race, each driver is rewarded points for their finish, with 25 points awarded to the winner, 18 points to the runner up, and 15 points for third place; points are awarded to everyone who finishes in the top 10. The driver who has the most championship points at the end of the season wins the FIA Formula 1 World Championship. As well as the Driver’s Championship, there is also the Constructors championship, which is awarded to the F1 team with the most points.
Now that the basics of Formula One have been explained, lets explain how it has changed. Although Formula 1 is now incredibly popular, thanks to super star drivers and being promoted extremely well, it wasn’t always that way. Formula 1 was a sport which was predominantly contested by amateur drivers, with very little attention being paid to the sport by casual sport fans. Back then, punters were lucky if they could place a small bet on the winner of each race.
However, this has change dramatically, due to superstar drivers, and the increase in betting opportunities as the gambling industry has grown.
What Are The Most Popular Formula One Betting Markets?
Although Formula ONe sounds limited to betting on just the winner, this isn’t the case, with many markets being on offer for the punters to wager a bet on. The most popular markets are as follows:
Who will get Pole Position in Qualifying?
Who will win the Grand Prix?
Who will get the fastest lap?
Who will finish in the podium places?
Who will win the Drivers’ Championship?
Now Onto The F1 Betting Strategies & Recommendations
Don’t Put All Your Money On The Pole-Sitter
Although the driver who qualifies quickest, thus starting at the front of the field, may seem like the logical choice this isn’t always the case. The pole sitters have only gone onto win the race 50% of the time, due to many factors, such as overtaking opportunities, strategies, collisions, and many more. Although many top drivers, like Lewis Hamilton and Sebastian Vettel, may seem the obvious choices if they put their car on pole, it may be too risky, as their odds will be quite low, and their pole to race win conversion. Due to the pole sitter having a 50% chance of victory, only back them if they’ve been on top form all weekend, including during the practice sessions and all 3 phases of qualifying.
Stay Informed When Betting In-Play
As mentioned previously, a wide range of factors can affect the outcome of a grand prix, with misfortune being as likely as anything else. Disaster and just pure bad luck can strike at any point of the grand prix, which includes safety cars, crashes, weather changes and mechanical failures. Give yourself a head start by getting as much information under your belt as possible before betting in play.
Looking back at previous races at the very same track will give you an understanding of where collisions are most likely to occur. Other information which can further benefit you will be knowing where the pit entrance/exit is.
When betting in-play, it is highly recommended to get your hands on real-time race data, which can be viewed on the official Formula 1 website or app. With this real-time race data, you will be ahead of the game, as many other punters will be watching the race, which is slightly delayed, and key information Is only seen/heard with breaks in commentary.
Each driver will always have their favourite tracks, and will always do extremely well there, so go online and view reliability stats, to see how well a driver performs at each track.
Ignore The Media
Simple, don’t take everything serious when reading reports or watching build ups based on formula 1. Remember that they have a job to do, and over exaggerating is part of that job. This will often put off punters from making a bet, which ends up making them lose.
Be Wary Of Betting On The Pole Sitter
There have been a few seasons where a particular driver has dominated throughout the year, getting a lot of pole positions too. However, this is very unlikely nowadays, due to the increased competitiveness between the teams. It is unlikely that a pole sitter from the previous race will go and do the same for the current Grand Prix, with the back to back pole position chances being at a low 30%. If you are confident of a driver getting pole position then go for it, but be wary, as better value is available elsewhere.
Don’t Jump Ahead Of The Gun
There have been many times where a punter will jump to conclusions and place a bet on the outright winner of the championship with only several races being completed. This is incredibly unwise, as the season is long and tough. There are 20 races, and so many things happen during those races, from rule changes, to improved cars. An example would be Sebastian Vettel in 2012, when he was at Red Bull. He only finished in the top 3 once in the first three races, but then went on to win the Driver’s Championship.
We recommend you place smaller stakes in the early stages of the season, and progressively increasing your stake as you increase your knowledge.